L-3 Named Prime Contractor on $326 Million U.S. Marine Corps Contract
NEW YORK--(BUSINESS WIRE)--March 20, 2008--L-3 Communications (NYSE: LLL) announced today that it was awarded a contract by the U.S. Marines to supply Tactical Video Capture Systems (TVCS) at military training sites in the United States and overseas. As prime contractor, L-3 will lead a team of suppliers in the implementation of Praetorian, L-3's next-generation, open-architecture 3D intelligent video observation system. The three-year contract is valued at more than $326 million.
Praetorian is the U.S. Marine Corp's first "intelligent" TVCS, enabling users to view multiple sites under surveillance in both real-time and on recorded 3D video to analyze information more quickly and act preemptively to stop or contain emerging threats. In addition to improving users' situational awareness and information management, Praetorian, also reduces costs, labor and the risk of loss.
"Praetorian solves the technical challenge of managing unlimited streams of disparate video and audio information by putting it into a real-time, easy-to-understand and actionable format for quick-turn, after-action review," said Jerry Bates, president of L-3 Global Security & Engineering Solutions, which developed the Praetorian system. "We are very proud to be leading the team delivering this critical, state-of-the-art technology and training support program for the U.S. Marines."
Mr. Bates added that Praetorian's capabilities can be applied across a variety of industry sectors including defense, government and commerce and finance. The system is also adaptable for infrastructure and port security, as well as airports and public events.
In addition to L-3's Global Security & Engineering Solutions business, the TVCS team includes Cisco, L-3 Coleman Aerospace, Henry Brothers Electronics, Tapestry Solutions, Sarnoff Corporation, Harris Corporation and Telos Corporation.
L-3 Global Security & Engineering Solutions (GS&ES) is a division of L-3 Services, Inc. (LSI), a wholly owned subsidiary of L-3 Communications Corporation. Headquartered in Chantilly, Virginia, L-3 GS&ES has nearly 3,000 employees throughout the United States and worldwide providing a broad range of technical, analytical, operational and security services and products to Government and commercial customers. Core capabilities include advanced security solutions and services, engineering and technical solutions and services, program management and operational support services.
Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2007 sales of $14 billion.
To learn more about L-3, please visit the company's web site at www.L-3Com.com.
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Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "will", "could" and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
CONTACT: L-3 Global Security and Engineering Solutions
Martha Newman, 703-434-5235
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